MOSCOW, Mar 6 (PRIME) -- Russia’s sales of new cars and light commercial vehicles (LCVs) fell 3.6% on the year to 128,406 vehicles in February, the Association of European Businesses (AEB) said in a statement on Wednesday.
“For the first time in almost two years, market sales in February showed a – however small – downturn compared to the prior year result. Consumer confidence has been in decline for several months now, so this dip into negative territory is not entirely unexpected,” the AEB said quoting Joerg Schreiber, chairman of the AEB Automobile Manufacturers Committee.
“The key question is where the market is headed in the coming few months – back to stability and growth or in the opposite direction. The present outlook is not too strong. This includes recently announced government measures in support of car purchases for young families, which are too limited in scope to make a fundamental difference.”
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